Contact Us: ​(904) 826-0799
Leigh Insurance Agency of St Augustine
  • Quotes
    • Auto Insurance Quote
    • Home Insurance Quote
    • Life Insurance Quote
    • Renters Insurance Quote
    • Flood Insurance Quote
    • FR-44/SR-22 Quote
    • Boat Insurance Quote
    • Motorcycle Quote
    • Mobile Home Insurance Quote
    • Other Quotes >
      • ATV Insurance Quote
      • Boaters Safety Quote
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Classic Car Insurance Quote
      • Event Insurance Quote
      • Final Expense Insurance Quote
      • Mortgage Protection Insurance Quote
      • Roadside Assistance Quote
      • RV Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
  • Insurance
    • Auto Insurance
    • Home Insurance
    • Life Insurance
    • Renters Insurance
    • Flood Insurance
    • FR-44/SR-22 Insurance
    • Boat Insurance
    • Motorcycle Insurance
    • Mobile Home Insurance
    • Other >
      • Business Insurance
      • ATV Insurance
      • Business Owners Package (BOP) Insurance
      • Classic Car Insurance
      • Final Expense Insurance
      • Event Insurance
      • Roadside Assistance
      • RV Insurance
      • Umbrella Insurance
  • About
    • Client Testimonials
    • Staff Directory
    • Refer a Friend
    • Blog
    • Agency Photo Gallery
    • Agency Videos
    • Insurance Carriers
    • Accessibility Statement
  • Contact
  • Quotes
    • Auto Insurance Quote
    • Home Insurance Quote
    • Life Insurance Quote
    • Renters Insurance Quote
    • Flood Insurance Quote
    • FR-44/SR-22 Quote
    • Boat Insurance Quote
    • Motorcycle Quote
    • Mobile Home Insurance Quote
    • Other Quotes >
      • ATV Insurance Quote
      • Boaters Safety Quote
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Classic Car Insurance Quote
      • Event Insurance Quote
      • Final Expense Insurance Quote
      • Mortgage Protection Insurance Quote
      • Roadside Assistance Quote
      • RV Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
  • Insurance
    • Auto Insurance
    • Home Insurance
    • Life Insurance
    • Renters Insurance
    • Flood Insurance
    • FR-44/SR-22 Insurance
    • Boat Insurance
    • Motorcycle Insurance
    • Mobile Home Insurance
    • Other >
      • Business Insurance
      • ATV Insurance
      • Business Owners Package (BOP) Insurance
      • Classic Car Insurance
      • Final Expense Insurance
      • Event Insurance
      • Roadside Assistance
      • RV Insurance
      • Umbrella Insurance
  • About
    • Client Testimonials
    • Staff Directory
    • Refer a Friend
    • Blog
    • Agency Photo Gallery
    • Agency Videos
    • Insurance Carriers
    • Accessibility Statement
  • Contact

Leigh Insurance Agency of St Augustine Blog

Who Makes A Good Beneficiary?

6/7/2022

0 Comments

 
Picture
​Beneficiary designations are a simple way to ensure your loved ones receive assets directly, but they can also pose issues. You must ensure that your beneficiary designations are properly done and submitted to the financial institution, and mistakes can be expensive. This article will teach you about naming beneficiaries the right way.
Why is it necessary for me to name a beneficiary?
Many financial instruments, including life insurance benefits, are not governed by your will, so make sure you've named a beneficiary for your policies and accounts. This way ensures that your policy's benefits are dispersed as you wish.

Although naming a beneficiary is not required, it is typically the reason people get life insurance in the first place to provide a benefit to someone they care about. When you die, your other assets may also be useful to the people you care about.

Checklist for Beneficiaries
To avoid unforeseen outcomes, follow these guidelines.

Mention The Complete Names Of Your Beneficiaries
Many documents, such as a will, life insurance policies, retirement funds, and bank accounts, require naming a beneficiary, except for joint accounts, which transfer to the survivor when you die.

It's good to name a beneficiary on all of your accounts. If you don't choose a beneficiary, your estate may take a long time to go through probate court, which is time-consuming and costly and often leads to family feuds.

Have Reliable Recipients
Even for your spouse, naming contingent beneficiaries in a will and other documents is a good idea because you can't plan for everything. Having a contingent beneficiary or numerous contingent beneficiaries gives you peace of mind if your primary beneficiary cannot be found or refuses to accept your assets for some reason.

As a result, you'll have backup people or entities mentioned. This will prevent your assets from being distributed to the incorrect persons, state-designated beneficiaries, or even the state itself in some cases.

Don’t Plan Your Estate Alone
Even if your estate plan only consists of a will and a life insurance policy, it's a good idea to have an attorney look through it. You'll have peace of mind knowing that they'll double-check your accounts to ensure that beneficiaries are named and that all of your accounts and documentation will be properly prepared.

Last Thoughts
Keeping these in mind will help you plan your estate so that you can decide how to divide your assets wisely ahead of time. That will give you peace of mind, knowing that you've done everything necessary to ensure that your assets are properly passed down to the correct individuals.

At Leigh Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (904) 826-0799 or Click Here to request a free quote. The coverage discussed in this article is not guaranteed. Please call our agents, we are happy to help you learn more about your plan and make sure you have the coverage you need.
0 Comments



Leave a Reply.

    Contact Us

    (904) 826-0799​
    1797 Old Moultrie Rd
    Suite 111
    St Augustine, FL 32084​
    Click Here to Email Us

    Archives

    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    August 2019
    July 2019
    May 2019
    March 2019
    February 2019

    Categories

    All
    Auto Insurance
    Boat Insurance
    Flood Insurance
    General Liability Insurance
    Health Insurance
    Homeowners Insurance
    Life Insurance
    Mobile And Manufactured Home Insurance
    Motorcycle Insurance
    Renter's Insurance

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

Leigh Insurance Agency of St Augustine​
1797 Old Moultrie Rd
Suite 111
St Augustine, FL 32084
(904) 826-0799​
Click Here to Email Us

Location

Website by InsuranceSplash